The Vibe Journal: Finance Blogs

Basic Statistical Returns or BSR code is a standardised numerical system used by the Reserve Bank of India (RBI) to collect the details of any bank. This code is unique to all banks registered in India and appears on tax challans and TDS certificates. Thus, filing for TDS/TCS returns becomes easier using this code.  RBI …

It is crucial to know the difference between CGST and SGST, and IGST to file accurate returns. To further the ‘One Nation, One Tax’ policy, the Government of India introduced a new indirect tax regime called the GST in 2017. These three categories of GST simplify interstate and intrastate transactions.   To learn what is IGST, …

A term loan offers an excellent means of financing when a business experiences a shortage of funds. Businesses need capital to cover their day-to-day operations and capitalise on growth opportunities. These expenses include paying rent for the workspace, purchasing raw materials, paying suppliers and covering utility bills. Read on to learn what is a term …

You need to link an Aadhaar card with a ration card to enjoy various government subsidies. A ration card is an essential government document that allows individuals to get food, gasoline and grains at subsidised rates. Linking your ration card with your Aadhaar card also helps prevent identity theft, ensuring that fake cardholders do not …

Knowing the varying features of a salary account vs a savings account helps you choose a feasible option. To begin with, a savings account is a financial product that helps you keep your money secure and earn nominal interest.  On the contrary, a salary account is available only if you get a salary and your …

Direct Benefit Transfer or DBT is a government program to transfer subsidies to the respective beneficiaries conveniently. With many welfare programs introduced by the Government of India, DBT ensures its benefits reach the underprivileged population on time without hassle.  Often, the funds released from the government trusts take time to reach the targeted population. Furthermore, …

RBI launched Digital Rupee officially as a legal tender for the wholesale segment on December 1, 2022. Taking another step towards the ‘Digital India’ initiative, the new digital currency of India is exchangeable with paper currency.  Also referred to as the Central Bank Digital Currency (CBDC), this helps the country head towards a cashless economy. …

The bank number on a card is the first 4 to 6 digits mentioned on all payment cards. Also known as the Bank Identification Number or BIN for short, it is an essential component of your card number. It helps track stolen cards and reduces the chances of theft. You’ll find the Bank Identification Number …

The CRR or Cash Reserve Ratio, is one of the many policies employed by the Reserve Bank of India (RBI) to bring balance to the economy. However, CRR not only affects the economy but also your personal finances.  Read on to learn the meaning of cash reserve ratio, its objective, how it works and more.  …

Be it an Equifax credit report or a CIBIL credit report, all lenders check your credit history and score while reviewing your application for any type of credit. These details give them insights about your financial standing and creditworthiness.  However, you don’t get the same score from all bureaus, nor do all lenders access your credit report …